Subject: [big campaign] McCain Could Eliminate 10 Cabinet Agencies And Still Not Balance His Budget
From: "Adam Jentleson (CAPAF)" <[email-masked]>
To: "big campaign" <[email-masked]>
Date: Mon, 7 Jul 2008 17:08:17 -0400
List-Id: <bigcampaign.googlegroups.com>

McCain Could Eliminate 10 Cabinet Agencies And Still Not Balance His
Budget
<http://thinkprogress.org/wonkroom/2008/07/07/mccain-10-departments/> 

Although his Jobs Plan
<http://www.johnmccain.com/Images/Issues/JobsforAmerica/briefing.pdf>
today promises "Leadership, Courage and Choices," Senator McCain
unfortunately offered none of the above when he pledged today to balance
the budget and cut taxes by 2013.

The Congressional Budget Office projects that, with the extension of
expiring tax cuts, the budget deficit will top
<http://www.cbo.gov/ftpdocs/90xx/doc9015/Selected_Tables.xls>  $400
billion that year. In addition, McCain has called for
<http://thinkprogress.org/wonkroom/2008/04/15/mccain-econ-speech/>  some
$300 billion in new tax cuts. McCain has not identified specific
spending reductions that save much money; earmark reductions, for
example, would save only $9 billion
<http://blog.washingtonpost.com/fact-checker/2008/05/mccains_fantasy_war
_on_earmark.html> , according to the Heritage Foundation. A generous
estimate of the savings from McCain's proposed spending freeze would be
$50 billion. This leaves McCain with a budget hole of about $650
billion. 

This is an astonishing amount. To put it in perspective, McCain could
eliminate the following 10 Cabinet agencies and still come up $100
billion short:

Agency	 2013 Projected Outlays 	
Agriculture	 $120 billion 	
Commerce	 $9 billion 	
Education	 $86 billion 	
Energy	 $30 billion 	
HUD	 $66 billion 	
Interior	 $14 billion 	
DOJ	 $32 billion 	
Labor	 $14 billion 	
Transportation	 $87 billion 	
Treasury	 $84 billion 	
EPA	 $9 billion 	
TOTAL	 $551 billion	 

We will have a more comprehensive analysis later this week.

http://thinkprogress.org/wonkroom/2008/07/07/mccain-10-departments/

-----
Adam Jentleson
Communications and Outreach Director
The Hyde Park Project, Center for American Progress Action Fund
202-247-8614

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